Israel is ranked in 51st place with a 66.9/100 index, embarrassingly only slightly ahead of Jamaica, with an index of 66.8.

The excuse may be that they are rich Gulf oil states, but Saudi Arabia is in 82nd place, and Jordan is a notable exception, showing that lots of oil doesn’t equal a high economic freedom rating, nor is it a necessity.

Six months later, at 6 PM Eastern Standard Time on May 2, 2011, West Texas Intermediate Crude is trading at $113.52 USD a barrel, and Brent Crude at $125.12 a barrel, so that prediction didn’t come true, unlike his prediction that there would be a major event in the Middle East, of which there were plenty, with the likes of the uprisings in Tunisia, Egypt, Yemen, Bahrain and Syria.